Commonwealth Numbered Regulations

CHARTER OF THE UNITED NATIONS (DEALING WITH ASSETS) REGULATIONS 2008 (SLI NO 29 OF 2008) - REG 42

         (1)   This regulation sets out what a person who is holding an asset must do if the person forms an opinion (a notifiable opinion ) that:

                (a)    the asset is a controlled asset; or

               (b)    the asset, having been a controlled asset, or having been previously treated by the person as a controlled asset, is not, or is no longer, a controlled asset.

         (2)   Paragraph (1) (b) does not apply if:

                (a)    the asset has been removed from the list mentioned in regulation 40; or

               (b)    all designated persons associated with the asset have been removed from the list.

         (3)   As soon as practicable after a person forms a notifiable opinion, the person must inform the AFP of:

                (a)    the asset about which the opinion was formed; and

               (b)    as much information about the asset (including information about the owner or controller of the asset) as is known to the person; and

                (c)    the reasons for the opinion.